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Cabinet on Thursday approved a Petroleum Agreement that will allow some Ghanaian exploration companies to explore the country's oil reserves. On the table now for exploration is the South Deep Water Tano block in the Western Region. According to government, there is an ongoing negotiation among the Ghana National Petroleum Corporation, GNPC, AGM Ghana Limited and the Ghana National Exploration and Production Company to carry out exploration exercises as and when new oil discoveries are made. As compared to using foreign companies for exploration which yields the country only 10% revenue these Ghanaian Companies promise a 79% revenue accrual. Mr Ofosu Kwakye said the country has not been able to engage indigenous Ghanaian exploration Companies due to technological and other constraints.